Please note: this text may be incomplete. For more information about this OCR, view
About OCR text.
Jaauary 18, iBflO
Record and Guide.
67
rinTli;um<W juioru 3IL^ iRfift
ESTABUSHED'-^ WARfHSIti^ 1669.
Dev6^ to B^ EsWE , Su!LDt//c AfipKlTECTJl^E .HoUSElJOLI) DEGORAIlort
Bi/sitJEss Atto Themes OF GEfJERAll.NT£r^ES7
PRICE, PER YEAR IN ADTAIVCE, SIX DOLLARS
Published every Saturday.
TELEPHONE, . . - JOHN 370.
(;on]jniuiicatioiis should be addressed to
C. W, SWEET, 191 Broadway.
/. T. LINDSEY, Business Manager.
Vol, XLV.
JANUARY 18, 1890.
No. 1,140.
This number of The Record akd Guide merits the attention of
the regular readers of the paper and of the non-subscribers to whom
it will be sent. It contains Samuel Benner's forecast for business
during the current year, our Review of the Building Material
Market during 1889, and a large amount of information furnished
by our advertisers, in addition to the visual contents of the journal.
For the information of non-subscribers it may be said that the
yearly suhscnpiion to The Record and GuioEis §6,00. Publication
office, No. 191 Broadway.
[OOPYHIGHTBD, *]
/ff^
^U/^
J'
^cU/Jc^ ^vU^-o-^cC^cf ^c^
cU.
I predict that prices for iron and railroad stocks will advance and
be considerably higher in 1890 than in 1889. aad that 1890 will be
the most prosperous year for the iron trade, railroads, and for gen¬
eral business since 1881.
Iron is themostusefulof all metals—it ig the monai'ch of business,
the barometer of commerce; it is the great Jupiter of trade, and
when the iron industry is prosperous, so is the general business of
this country.
I am well aware that my prediction, made last January, of the
upward tendency of iron and better business for the year 1889, was
considered by many persons as premature and would be a failure.
The continued low prices had made them discom-aged. Yet we have
seen the prediction verified—iron has steadily advanced since the
middle of February,
The cause and major question which made the turning point
from commercial depression to activity in trade was the outcome
of the election in 1888, which turned the tide in the minds of a
majority of business men at that time, although the tiu'u in
business affairs was not apparent until some time later. However,
it was scarcely a month after the inauguration of Gen, Harrison
when tiie decline iu irou ceased, a decline that-had brought about
a widespread stagnation iu the iron world.
A restoration of confidence in the future has resulted in enlarged
trade and in an inci-ease of the Industries of our country,, mating-a
lively continued demand for iron. A revival in general business
stimulates the iron trade, and a rising iron market is the best evi¬
dence of it and that it will continue.
The aggregate grain and cotton crops of the past year are the
largest iu the liiatory of this country, which ia an important factor
for promoting profitable and voluminous trade, and no doubt was
the foundation for the extensive business done during the closing
mouths of 1889. Yet the advance in u'on had commenced several
months before the extent and outcome of the crops were known.
The only adverse contingency that the most chronic pessimist can
argue against the bright future business outlook is tight money—
yet money is plenty everywhere for legitimate purposes ; the banks
in Ohio are overflowing with funds, some of them re'fuae to pay in¬
terest on long time deposits.
As we look to the generalGovernmentfor our supply of currency,
to increase its volume is plain sailing. Congress should direct the
Secretary of the Treasury to issue coin certificates in payment for
silver bullion as fast as business expands. Should the Congress of
this winter fail to repeal the internal revenue laws, then it ousjhtto
pass an act to pension all the soldiers at once, which will relieve
the Treasury of a part of the surplus, and place the money in cir¬
culation thia year and next, while the revival of prosperity and in¬
creasing business will need and demand it iu the channels of trade.
I predict that in five yeara from this time nearly all the aoldiera
then living will be pensioned by reason of the disability laws which
have been and will be passed by Congi-ess.
The business outlook for 1890 is buoyant for a general revival of
trade. We may look in any direction and behold—granaries
bursting with the products of the land, factories employed to their
fullest capacity, the hum of industry is now heard where a year
ago all was as silent as the tomb.
Railroads were never more prosperous ; they are unifying and
consolidating theii- lines with immense traffic, and reaching out in
all directions with new roads to accommodate the increasing busi¬
ness. There will be a boom in railroad stocks this year.
The mining industry will feel the favorable influence the coming
spring ; tbe increased demand for coal, ore and other minerals,
with the revival and activity in general trade, will employ the full
capacity of the labor of tbis country ; the demand for labor will
increase, making wages higher.
The growing winter wheat has a favorable start, which ia an
indication of a large crop of wheat the coming summer.
The crops of foreign countries are short and below an average,
which will make a demand for our surplus grain and provisions.
The balance of trade is in our favor.
We observe, as a result of the brilliant outlook, that there is a
universal scramble for property. British syndicates are sending
their money to this country by the millions to buy our breweries,
distilleries, nail mills, flour mills, cotton and woolen factories,
oil, ore and coal lands, furnaces, elevators, and ail else they can
invest in where there is a prospect of a reasonable profit.
All Europe is excited about the scarcity of iron, and where the
supply is to come from to.meet the requirements of railway exten¬
sion and military operations in the old countries. Prices have
been advancing in England more rapidlj than in this country.
Wc are now in an era of commercial activity unequalled in the
annals of fci-ade,
A production of ten milUon of tons of pig iron will not supply
the demand for 1890. No. 1 pig iron will be low at $30 per ton.
The price will advance above that figure'this year.
The growth of the United States is remarkable.
Sixty-fivemillions of people. ...
Four hundred.-million acres of improved and cultivated-land.
Two hundred thousand miles'of i-ailway.-
A billion and a-balf of good money in cii-ciilation.
A net^work of electric-wires froin ocean'to ocean, aiid a-pro¬
fusion of all the elements.of wealth.. . ' ...... ■. -"."...".' " \_
-The.progress and improvements, in-commerce,-manufacture and.
agi-iclilture- surijaae' anything known in the, world's-histor-y.
* Any newspaper or magazine wishing io copy these.predictions will whcerlully
. l»a given permission to do so, t>y a^jplying to the olilcB of Tint iiiLuuwJ iND^&viDK,
^o^lrt^^cx^^^ :..
DuMDASiGHiOj January!, 1890;'
)